An Advantage of Newness: Vicarious Learning Despite Limited Absorptive Capacity

• 成果类型: Article
• 署名作者: Posen, Hart E.; Chen, John S.
• 署名单位: University of Wisconsin System; University of Wisconsin Madison; University of Michigan System; University of Michigan
• 刊物名称: ORGANIZATION SCIENCE
• ISSN/ISSBN: 1047-7039
• DOI: 10.1287/orsc.1120.0815
• 发表日期: 2013
• 页码: 1701-1716
• 关键词: experiential learning; vicarious learning; absorptive capacity; entry

摘要

Entrants are often viewed as suffering from a liability of newness-at founding, they rarely possess the knowledge and capabilities necessary to compete and survive. They can overcome this liability by learning vicariously from the knowledge of incumbent firms. But how can entrants learn from external knowledge when they lack the prior related knowledge that forms the basis of absorptive capacity? We theorize that the process of internal experiential learning facilitates learning from external knowledge, particularly for entrants. To test this theory, we examine learning using a comprehensive set of U.S. commercial banking firms, including a full census of entrants. Our estimates suggest that the share of vicarious learning realized in the process of experiential learning is twice as large for entrants as for incumbents. In this sense, entrants enjoy an advantage of newness in learning.